Author: lbostgadmin
LBR-LBO CIO forum
Sept 03, 2008 (LBO) – Retaining skilled information technology professionals is critical for Sri Lanka’s corporate sector when planning business continuity and disaster recovery, according to experts in the IT field. “IT is the backbone of retail systems.Hardware, technology or environmental issues would be a huge risk and would affect the continuity of the business,” […]
Strong Region
Sept 03, 2008 (LBO) – Asia continued to do well amidst global financial turmoil and Sri Lanka and the Maldives are set to perform well, despite an expected slowdown, a top HSBC official said. In Sri Lanka the bank has also been providing aggressively and has also become more cautious in its credit card business, […]
Finance Rating
Sept 03, 2008 (LBO) – Sri Lanka’s RAM Ratings says it has confirmed the ‘BBB’ national long term rating of Alliance Finance with a ‘stable’ outlook and also confirmed its ‘P2’ short term rating. “The ratings are supported by the company’s adequate asset quality and the resultant augmentation in its capital adequacy,” RAM Ratings said […]
Bunker Business
Sept 03, 2008 (LBO) – The Sri Lanka Ports Authority plans to take over the bunker fuel storage tank facility that belonged to John Keells Holdings (JKH) subsidiary Lanka Marine Services by September 10. Wickramasuriya said the port will run the tank farm and make it available for use by all licensed bunker suppliers. To […]
Tax Dispute
Sept 03, 2008 (LBO) – Sri Lankan ship owners say a recent Supreme Court decision has resolved a long-standing dispute they have had with customs over import tax on ships. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 According to the recent ruling, ships cannot be considered […]
Sri Lanka shares weaken, Indian Oil unit gains as oil prices fall
Sept 03, 2008 (LBO) – Sri Lankan shares fell again Wednesday with the local unit of Indian Oil Corp (IOC) gaining as its earnings outlook improves on falling oil prices, brokers said. The indices were dragged down mainly by the fall in Dialog Telekom, which ended down 25 cents at 10.75 rupees with 314,100 shares […]
Sri Lanka Treasury bill yields fall
Sept 03, 2008 (LBO) – Sri Lanka’s Treasury bill yields fell at Wednesday’s auction with 6-month bills falling 26 basis points to 17.75 percent, and 12-month yields fell 10 basis points to 18.50 percent, the government’s debt office said. Three month bills were not offered. The debt office, which is a unit of the central […]
Kuwait gives illegal expats six-week amnesty
KUWAIT CITY, Sept 02, 2008 (AFP) – Kuwait has granted illegal foreign residents a six-week amnesty to legalise their status or leave the oil-rich emirate without paying a fine. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 In a decree cited by the official KUNA […]
Brazil starts to tap deepwater oil field
RIO DE JANEIRO, September 1, 2008 (AFP) – Brazil will on Tuesday start to tap a deepwater offshore oil field that could presage how difficult it will be to pump reserves in vast new fields located even farther out to sea. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ […]
Oil prices at 105 dollars, as commodity and credit bubble deflates
LONDON, September 2, 2008 (AFP) – Oil prices dived under 105 dollars on Tuesday, reaching four-month lows, after Hurricane Gustav spared key energy facilities in the Gulf of Mexico and the US currency strengthened, analysts said. “Hurricane Gustav weakened once it reached the US Gulf Coast, putting pressure on the energy market,” said Andrey Kryuchenkov, […]
GM opens second plant in western India
MUMBAI, September 2, 2008 (AFP) – US-based auto giant General Motors opened its second plant in western India on Tuesday that will nearly triple annual production capacity to 225,000 vehicles a year. The company said it had invested 300 million dollars in the new factory in Talegaon, near Pune city, 160 kilometers (100 miles) southeast […]
Philippine corporate profits fall: study
MANILA, September 2, 2008 (AFP) – Soaring inflation contributed to a 4.3-percent fall in profits at listed Philippine firms over the three months to March, a stock exchange study said Tuesday.The fall against the same quarter last year pushed profits among the 221 companies down to 66.68 billion pesos (1.46 billion dollars), according to the […]